Sterling, stocks up, short stg down after GDP data
LONDON, Oct. 19 (Reuters) - Sterling strengthened versus the euro and dollar, stocks rose and short sterling futures fell on Friday after third quarter GDP data came in stronger than expected.
The Office of National Statistics first estimate showed GDP grew by 0.8 percent above forecasts for a slowdown to 0.7 percent from 0.8 percent in the second quarter.
"It's stronger than expected. Interestingly BoE has never reduced rates when growth in the prior quarter has been above trend, and this is very clearly above trend. It probably makes it highly unlikley that the bank will move in November," said Russell Jones, head of fixed income and currencies global research at RBC Capital Markets.
At 0834 GMT the pound was up around 20 ticks to $2.0454 from before the data. The euro slipped to 69.83 pence.
Short sterling interest rate futures fell to stand as much as three ticks lower across the strip while December long gilt futures pared gains.
The FTSE 100 rose around 0.1 percent.